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Please show work. Correct answer provided. 10. Shaun wants to invest his money such that he accumulates $10 000 after 3 years at a rate

image text in transcribed Please show work. Correct answer provided.

10. Shaun wants to invest his money such that he accumulates $10 000 after 3 years at a rate of 4% compounded monthly? How much money should he invest today? A) $8717.33 B) $9615.38 C) $9884.20 D) $8695.61 E) $11 500.06 Answer: D

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